By NewsBits
The Federal Government of Nigeria has won the legal case against Process & Industrial Developments (P&ID) Limited in a London court on Monday.
NewsBits had reported at the weekend that the Business and Property Courts of England and Wales, situated in London, is poised to deliver a pivotal verdict on Nigeria’s case contesting an $11 billion arbitration award in favour of Process & Industrial Development Ltd. (P&ID).
Our story further stated that the judgement, scheduled for today and presided over by Justice Robin Knowles, holds significant implications for the nation.
The judgment was delivered after five years of legal frameworks, which have finally been to the advantage of Nigeria, as the court squashed the $11 billion arbitration award in favour of P&ID.
In a ruling delivered by e-mail, Robin Knowles, the Justice of the Commercial Courts of England and Wales, upheld Nigeria’s prayer on the ground that the ill-fated gas processing contract was obtained by fraud.
